Still Below $3,500: Bears break records on the crypto market
Over the last week, the collapse on the crypto market continued, although the fall in prices has slowed. BTC is still trading below $3,500.
According to CoinGecko, over the past 7 days, bitcoin fell by 2.6% and at the time of publication, BTC was worth $3.460. Other top cryptocurrencies also dropped in price. Ripple, the second cryptocurrency in terms of market capitalization, fell by 2% to $0.301444. During this time, ETH collapsed by 4.6% and reached $107.
EOS, on the contrary, managed to strengthen the position. Now EOS cryptocurrency stands at 4th place by a market cap, and its price has grown by 1% over the past 7 days. At the time of publication, the price of EOS was $2.39.
Bitcoin Cash, the world's 5th cryptocurrency, also lost in value. For the week, the price of BCH dropped by 2.5% to $118.
Despite the collapse of the crypto market, the total capitalization of cryptocurrency has grown in the last 7 days. The increase was insignificant - only $1 billion. At the moment, the capitalization of the entire crypto market is $113.9 billion.
According to CoinDesk, BTC is currently experiencing the longest period of bearish trends in history. The previous record cryptocurrency set in 2013-2015. At that time the price of bitcoin was falling for 410 days, and at the end of the day, BTC lost 86% of the value. Now bearish moods have been preserved for 413 days, but in general, bitcoin fell by 82%.